In 1907 Club Atlético Argentino de Rafaela were founded in the city of Rafaela, Santa Fe Province. In 1915 the name was changed to Club Atlético de Rafaela. The Monumental de Barrio Alberdi concrete stadium was erected in 1951.

The club was turned into a non-profit organization in 1988 renamed to its current denomination of Asociación Mutual Social y Deportiva Atlético de Rafaela ("Social and Sport Association Rafaela Athletic"). Only a year later the club finally reached the second division after defeating Atlético Ledesma de Jujuy by 3-0.